RE-ELECT THE PRESIDENT LIMITED

At an Extraordinary General Meeting of the above-named Company, duly convened, and held at the offices of Grant Thornton, Grant Thornton House, Melton Street, London NW1 2EP, on 12th January 1998, at 10 a.m., the following Resolutions were duly passed, as an Extraordinary Resolution and Ordinary Resolution respectively:   “That it has been proved to the satisfaction of this Meeting that the Company cannot, by reason of its liabilities, continue its business, and that it is advisable to wind up the same, and accordingly that the Company be wound up voluntarily, and that G. C. A. Morphitis, of Grant Thornton, Grant Thornton House, London NW1 2EP, be appointed Liquidator of the Company for the purpose of the voluntary winding-up.” E. R. Piller, Chairman